Portfolio disclosure

Lindsell Train Investment Trust PLC
02 April 2004


THE LINDSELL TRAIN INVESTMENT TRUST PLC

In accordance with Listing Rule 21.20 (l)(ii), The Lindsell Train Investment
Trust PLC announces that at 31 March 2004 the ten largest investments were as
follows:

Company                                    Market Value (£)       Percentage of
                                                                      portfolio
Lindsell Train Global Media 
(Distributor)Inc 'A'                              2,235,551                9.26
Lindsell Train Japan (Distributor) Inc            2,030,813                8.41
2.5% Consolidated Loan Stock                      1,774,160                7.35
HBOS 9.25% Non-Cum Irredemable Preference         1,768,200                7.32
Barr (AG)                                         1,732,500                7.17
Cadbury Schweppes                                 1,259,776                5.22
Wolverhampton & Dudley Breweries                  1,070,969                4.44
Glenmorangie 'A' (Limited Voting) Ordinary        1,053,863                4.36
Reuters Group                                       998,460                4.13
Halifax Group 6.125% Non Cumulative Preference      967,535                4.01
Total                                                                     61.67

There were no additional investments with a value greater than 5% of the
Company's portfolio.


For Phoenix Administration Services Limited
Secretary
2 April 2004


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